Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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To: EPS who wrote (324)	10/4/1998 12:02:00 PM
From: Worswick	Read Replies (2) of 2794

Well, we seem to be stirring the stew up here. Wonderful things that are being posted. PLease all of you keep it up. Rmember a place called Japan??? In these scenario of unconttrolled risk and perhaps uncontrollable risk do keep thinking about Japan. I wanted to call you attention to the very good posts of Paul Berliner over on the Asia Thread. He has been watching the Japanese markets and reports, "Tundra, the saddest part is that the data on the unrealized losses is almost useless. Since the secs. havn't been marked-to-market in a dogs age, the unrealized G&L in the equity section of Japanese bank balance sheets is a fairytale, also because data on the positions & their purchase prices have all been manipulated. I'd take the # they give & multiply it by at least 3. yesterday I was working on Kubota, a Japanese farm & industrial equip. Co. Their Annual report contains a stern warning from the auditors that the investments value of the balance sheet secs. may have been manipulated and do not comply with international accounting standards. So the problem also lies outside the banking sector.

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